ANTIPODES PARTNERS Ltd Boosts Stake in Maplebear Inc. $CART

Key Points

• ANTIPODES PARTNERS Ltd dramatically increased its Maplebear stake in the fourth quarter, buying 751,284 additional shares and lifting its holdings by 6,623.9% to 762,626 shares worth about $34.3 million.
• Maplebear’s latest earnings showed revenue growth of 13.6% year over year to $1.02 billion, but earnings per share of $0.57 came in slightly below the $0.58 consensus estimate.
• Analysts remain generally constructive on CART, with a Moderate Buy average rating and an average price target of $51.39, while the stock recently traded at $39.71.

ANTIPODES PARTNERS Ltd increased its position in Maplebear Inc. (NASDAQ:CART - Free Report) by 6,623.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 762,626 shares of the company's stock after purchasing an additional 751,284 shares during the period. ANTIPODES PARTNERS Ltd owned 0.29% of Maplebear worth $34,305,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Allworth Financial LP lifted its holdings in shares of Maplebear by 35.7% in the 3rd quarter. Allworth Financial LP now owns 928 shares of the company's stock valued at $34,000 after purchasing an additional 244 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Maplebear by 9.6% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,978 shares of the company's stock valued at $134,000 after acquiring an additional 261 shares during the period. Rafferty Asset Management LLC increased its position in Maplebear by 2.5% in the 2nd quarter. Rafferty Asset Management LLC now owns 11,000 shares of the company's stock valued at $498,000 after acquiring an additional 273 shares during the period. Crossmark Global Holdings Inc. increased its position in Maplebear by 5.0% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 6,423 shares of the company's stock valued at $236,000 after acquiring an additional 304 shares during the period. Finally, Hantz Financial Services Inc. increased its position in Maplebear by 78.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 884 shares of the company's stock valued at $32,000 after acquiring an additional 389 shares during the period. 63.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CART shares. Raymond James Financial upgraded Maplebear from a "hold" rating to a "moderate buy" rating in a research report on Thursday, April 9th. Argus upgraded Maplebear to a "strong-buy" rating in a research report on Thursday, March 5th. Wells Fargo & Company boosted their target price on Maplebear from $45.00 to $47.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 7th. Needham & Company LLC reiterated a "buy" rating and set a $55.00 target price on shares of Maplebear in a research report on Thursday, May 7th. Finally, Barclays boosted their target price on Maplebear from $65.00 to $69.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Maplebear currently has an average rating of "Moderate Buy" and an average target price of $51.39.

Maplebear Stock Up 3.2%

Shares of Maplebear stock opened at $39.71 on Friday. Maplebear Inc. has a fifty-two week low of $32.73 and a fifty-two week high of $53.50. The firm has a market cap of $9.33 billion, a PE ratio of 22.18, a P/E/G ratio of 0.53 and a beta of 0.96. The business's fifty day moving average is $39.53 and its two-hundred day moving average is $39.91.

Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.57 earnings per share for the quarter, missing analysts' consensus estimates of $0.58 by ($0.01). Maplebear had a return on equity of 18.67% and a net margin of 12.50%.The business had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same period in the prior year, the company earned $0.37 EPS. The company's revenue for the quarter was up 13.6% compared to the same quarter last year. Equities research analysts anticipate that Maplebear Inc. will post 2.43 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Lisa Blackwood-Kapral sold 9,390 shares of the company's stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $40.25, for a total transaction of $377,947.50. Following the completion of the sale, the chief accounting officer directly owned 58,971 shares in the company, valued at $2,373,582.75. This represents a 13.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Morgan Fong sold 126,083 shares of the company's stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $37.09, for a total value of $4,676,418.47. Following the sale, the general counsel owned 386,643 shares of the company's stock, valued at approximately $14,340,588.87. The trade was a 24.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 144,863 shares of company stock valued at $5,418,135. Insiders own 24.00% of the company's stock.

Maplebear Profile

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers' existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.

Want to see what other hedge funds are holding CART? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Maplebear Inc. (NASDAQ:CART - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.